GrainCorp CEO Resigns After ADM Deal Collapses

SYDNEY—GrainCorp Ltd. suffered its second blow in recent days, as its chief executive quit following Australia's rejection of a three billion Australian dollar (US$2.7 billion) takeover bid by U.S. agribusiness Archer Daniels Midland Co.

Alison Watkins said she would leave next month after three years as GrainCorp's chief executive. Chairman Don Taylor will serve as interim CEO until a successor is found.